Refinance calculator
Our loan refinance calculator helps you estimate the potential savings and costs associated with refinancing your existing loan.

Our loan refinance calculator helps you estimate the potential savings and costs associated with refinancing your existing loan.
This calculator is intended for illustration purposes only and exact payment terms should be agreed with a lender before taking out a loan.
Principal/loan amount
R0
Monthly payment
R0
Length
0 months
Total monthly payments
R0
Total interest
R0
Borrow RCalculating loan refinance costs involves several factors:
Application Fees: Some lenders charge an application or origination fee when you apply for a new loan. This fee can vary widely depending on the lender and the type of loan.
Closing Costs: Similar to when you initially obtained your business loan, refinancing typically involves closing costs. These may include fees for appraisal, title search, attorney services, and other administrative expenses.
Prepayment Penalties: Check if your current loan carries any prepayment penalties for paying off the loan early. If so, factor in these costs when calculating the total cost of refinancing.
Interest Rate: The new interest rate on your refinanced loan will determine your monthly payments and the total interest you’ll pay over the life of the loan. A lower interest rate can lead to significant savings over time.
Loan Term: Consider whether you’re extending or shortening the term of your loan. While a shorter term can save you money on interest in the long run, it may also result in higher monthly payments.
To calculate the total cost of refinancing, add up all the fees and costs associated with obtaining the new loan. Then, compare this figure with the potential savings you’ll achieve through lower monthly payments and reduced interest over the life of the loan. This will help you determine whether refinancing is a financially prudent decision for your situation.
All calculators
Join the 95,000+ businesses just like yours getting the Swoop newsletter.
Free. No spam. Opt out whenever you like.
Our offices:
Kingfisher Way, Silverlink Business Park, Newcastle upon Tyne, NE28 9NX, UK
View in Google MapsAberystwyth Innovation and Enterprise Campus
Gogerddan Campus
Aberystwyth University
Ceredigion
SY23 3EE
Dogpatch Labs, The CHQ Building, Custom House Quay, Dublin, Ireland
View in Google MapsSuite 801, Level 8, 84 Pitt Street, Sydney, NSW 2000, Australia
View in Google Maps43 W 23rd St, New York, NY 10010, United States
View in Google Maps21 Dreyer Street, Cape Town, South Africa, 7708
View in Google MapsDisclaimer: Swoop Finance helps South African firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans or other finance products ourselves. We can introduce you to a panel of lenders, equity funds and grant agencies. Whichever lender you choose we may receive commission from them (either a fixed fee of fixed % of the amount you receive) and different lenders pay different rates. For certain lenders, we do have influence over the interest rate, and this can impact the amount you pay under the agreement. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Swoop Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. Swoop Finance (Pty) Ltd is registered with CIPC in South Africa (company number 2023/820661/07, registered address 21 Dreyer Street, Cape Town, South Africa, 7708).
Clever finance tips and the latest news
Delivered to your inbox monthly
Join the 95,000+ businesses just like yours getting the Swoop newsletter. Free. No spam. Opt out whenever you like.